Biggest online shopping day expected, with strong growth in ‘buy now, pay later’ usage
- Affirm and Shopify stocks rally on Cyber Monday
- Affirm stock jumps 9.5%, Shopify climbs 5.1%
- Cyber Monday expected to be the biggest online shopping day ever
- Black Friday sales for Shopify up 22% from last year
- Usage of ‘buy now, pay later’ payment method expected to rise 19% on Cyber Monday
Shares of Affirm Holdings and Shopify are rallying on Cyber Monday, with Affirm stock jumping 9.5% and Shopify climbing 5.1%. Cyber Monday is expected to be the biggest online shopping day ever, with shoppers projected to spend between $12 billion and $12.4 billion. Black Friday sales for Shopify were up 22% from last year. Additionally, the usage of the ‘buy now, pay later’ payment method is expected to rise 19% on Cyber Monday, indicating strong growth in this area. With these factors in play, both Affirm and Shopify stocks are worth keeping an eye on.
Factuality Level: 7
Factuality Justification: The article provides information about the rise in Black Friday sales for Shopify and the increase in stock prices for Affirm and Shopify on Cyber Monday. It also mentions the forecasted spending on Cyber Monday and the growth in usage of the ‘buy now, pay later’ payment method. The information provided seems to be based on data from Adobe Analytics and Dow Jones Market Data. However, the article lacks specific details and context about the companies and their performance, and it does not provide any opposing viewpoints or potential risks. Therefore, while the information presented appears to be accurate, the article could benefit from more comprehensive reporting.
Noise Level: 3
Noise Justification: The article provides some relevant information about the rise in Black Friday sales and the performance of Affirm and Shopify stocks on Cyber Monday. However, it lacks in-depth analysis, evidence, and actionable insights. The article also contains repetitive information and does not explore the consequences of these trends on other stakeholders.
Financial Relevance: Yes
Financial Markets Impacted: Affirm Holdings and Shopify
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses the rise in stock prices of Affirm Holdings and Shopify on Cyber Monday. However, there is no mention of any extreme event or its impact.
Public Companies: Affirm Holdings (AFRM), Shopify (SHOP)
Key People:
Reported publicly:
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